Geomembranes to register CAGR of 10.9% uptil 2020 to reach a market size of US$3.26 bln by 2020

21-Mar-16

The Geomembranes Market is projected to witness a CAGR of 10.9% between 2015 and 2020 to reach a market size of US$3.26 bln by 2020, as per RnR Market Research. The growth of the market is attributed to stringent environmental regulation on water and waste management and also the growing applicability of geomembranes in roadways construction, oil & gas industry, canal linings, and others. Extrusion is the most-widely used method for manufacturing of geomembranes. It is widely used for the fabrication of HDPE geomembranes. Extrusion is a cost effective process and is adopted to manufacture geomembranes with raw material such as chlorosulfonated polyethylene (CSPE), low density polyethylene (LDPE), linear low density polyethylene, and polypropylene PP. Large number of waste and water management projects use HDPE geomembranes. HDPE geomembranes can be manufactured in varied thickness for diverse applications. The favorable properties of HDPE coupled with easy availability and relatively low cost of the material make HDPE geomembranes cost-effective for applications in large projects. On the other hand, PVC, polypropylene, butyl rubber, and ethylene inter polymer alloy (EIA) geomembranes are projected to witness the highest CAGRs in the market during the forecast period. The increasing necessity to conserve fresh water sources and prevent water pollution is expected to increase the demand for geomembranes significantly. Other applications such as irrigation canals, decorative ponds, floating baffles, and so on are also expected to increase the demand for geomembranes in the water management application segment during the forecast period.